This exceptional three-story brick building at 1817 Flatbush Avenue in Brooklyn, NY (zip code 11210), offers a unique investment opportunity. Currently operating as a fully occupied (100%) medical office, this property boasts 3,700 square feet of net rentable space within a total building area of 3,600-3,750 square feet, situated on a 2,266 square foot lot. The building features five units and includes two on-site parking spaces. The property's strong financial performance is reflected in its current Net Operating Income (NOI) of $94,704 and a 6.76% capitalization rate. The asking price is $1,400,000. The building's classic brick construction ensures durability and aesthetic appeal, while its prime Flatbush Avenue location provides excellent visibility and accessibility. The interior is well-suited for medical use, with features including fully equipped examination rooms, a spacious reception area, and dedicated administrative offices. This is an ideal investment for those seeking a stable, high-performing asset in a thriving Brooklyn neighborhood. The property is classified as Class C and its Kings County APN is 076190005.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$702,652
6.5%
$648,602
7%
$602,273
Comparable approach
Method
Valuation
Relative Method
$489,975
Geo Method
$489,975
Alternative Use
Use
Valuation
Industrial / Distribution
$1,276,950
Retail / Commercial
$654,812
Mixed-Use / Specialty
$652,478
Hospitality / Lodging
$478,702
Institutional / Educational
$678,314
Residential Income
$793,628
Multifamily
$951,834
Automotive / Energy
$581,412
Parking / Income-Based Land
$200,638
Restaurant / Food Service
$339,359
Healthcare / Senior Housing
$669,104
Location Insight
City
Brooklyn
County
Kings
State
New York
Latitude
40.6257
Longitude
-73.9397
CBSA code
35620
CBSA name
NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Flatbush Ave Brooklyn, NY 11210
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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